Development

Investors Continuing to Want In On The Hollywood Real Estate Action

in

Photo courtesy of Ken Lubas / Los Angeles Times

There was an article yesterday in the LA Times about another purchase of prime real estate in Hollywood, where the developer is planning a large mixed-use project. According to the times article, "Champion Real Estate Co. bought the paved 1.1-acre site behind the Hollywood Boulevard restaurant (Musso & Frank Grill) and between Cherokee and Las Palmas avenues from Common Fund. The price was not disclosed, but Hollywood real estate experts familiar with the property valued it at nearly $10 million." They are planning on creating a $50 Million dollar complex that would include residential, retail, and possibly a hotel. This is in addition to their purchase last year of a nearby Hollywood site that's over 2 acres. Among other ongoing development projects, there is currently a new mixed-use project being created on Sunset Blvd and Bronson by the mighty CIM Group, who has been at the forefront of the development in Hollywood with their groundbreaking Hollywood & Highland shopping complex.

The president of the Champion company sums up the development in the area nicely by stating, “We really love Hollywood,” President Robert Champion said “The city has designated Hollywood to be an urban location and we think, long term, a mixed-use project there will be a home run.”

For those of you that don't have the ability to buy or develop an entire building, but would like to invest in the growth in Hollywood, which is surely going to continue to boom; I have a loft at Hollywood & Vine for sale. Get in on the action and grab a piece of the growth!

If you would like to visit this uber chic loft in person, please feel free to contact us anytime @ 310.600.9172 or email eric@smilayproperties.com.

New Apts Coming to Hollywood

in ,

In the next few month's there could potentially be thousands of new residents and visitors flocking to Hollywood to either stay at the new W hotel or call the area home, as multiple new apartment buildings are coming. I have previously posted a picture of the apartments at 1600 Vine, and now here is a look at the construction activity of two more apartments underway just north of Hollywood Blvd & East of Highland. Here is also a first look at the stucco exterior of the one closes to Highland, Jefferson at Hollywood.

Jefferson At Hollywood (see http:jeffersonathollywood.com/ for more info). [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4223735280[/flickr]

Jefferson At Hollywood Apt [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4222976419/[/flickr]

Construction On Both Sides of the Street [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4222977829/[/flickr]

Apt Building Across from the Jefferson [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4223736704/[/flickr]

Tale of Two Sides The 6600 Block of Hollywood Blvd

in ,

As Hollywood continues to grow and redevelop I thought it would be interesting to show the transition process. This transition is clearly prevalent in the differences of the type of restaurants, stores, and entertainment venues that reside on the north side of the 6600 block of famed Hollywood Blvd. versus those on south side of the street. Besides Kress (restaurant & nightclub), there are really no name brand stores or modern upscale venues on the south side, but instead the buildings are still occupied by an abundance of tattoo shops, smoke shops, costume stores, and other "mom and pop" retail spots. This is in contrast to the north side, which is flourishing with several newer high end restaurants, name brand retailers, & modern updated architecture. North Side of the Streeet

East Restaurant [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4222945315[/flickr]

American Apparel [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4222948705[/flickr]

Lucky Devils Restaurant [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4222946945[/flickr]

Napolean Beauty Shop [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4222953165[/flickr]

Loteria Restaurant & Formerly Mood Nightclub Being Remodeled Currently [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4223726494[/flickr]

Geisha House Restaurant Front [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4223721824/[/flickr]

Essex House Restaurant [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4222991519[/flickr]

Bella Restaurant [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4223749992[/flickr]

South Side of the Streeet

Various Shops Surround Vacant Ritz Theatre [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4223747198/[/flickr]

Wig Shop & Others [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4223713158/[/flickr]

Small Shoe & Clothing Stores [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4223723518/[/flickr]

Supply Store & Others [flickr size="small" float="left"]http://www.flickr.com/photos/42659427@N02/4222985925[/flickr]